In Foreclosure, Pre-Foreclosure and 3rd-Party Approval Will Be Eliminated October 27th

Short Sale photo 

In our ongoing efforts to simplify and reorganize the Realtor Info field, MFRMLS is implementing Phase 2 of our project on Bank Owned and Short Sale listings. Listings that currently have "Bank Owned," "Short Sale" or "None of the Above" selected in the Special Sale Provision Field will not be affected by the following changes:

Tuesday, Oct 27, 2009, the following options will be removed from the Realtor Info field in MLXchange:

·         In Foreclosure
·         Pre-Foreclosure
·         3rd-Party Approval
·         Fannie Mae Approved Pilot

To help improve the integrity of the data, these options will be mapped to the new Special Sale Provision field. During this change, MFRMLS will be looking at the options above and comparing the information that is in the Public Remarks field to determine if the property is a short sale. Below illustrates how the changes to the listings will occur:

·         3rd Party Approval —–> Special Sale Provision – Short Sale  (As long as the public remarks do not contain "Not a short sale" )
·         In Foreclosure —–> Special Sale Provision – Short Sale  (As long as 3rd Party Approval is not selected AND public remarks do not contain "Not A Short Sale")
·         Pre Foreclosure —–> Special Sale Provision – Short Sale (As long as 3rd Party Approval is not selected AND public remarks do not contain "Not A Short Sale")
·         Fannie Mae Pilot —–> This field will go inactive

In the final step of this process, MFRMLS will look for listings that have not been mapped to the Special Sale Provision field and will be addressed in the following order:

1.) Listings that contain "Short Sale" in the Public Remarks field will have the Short Sale option selected in the Special Sale Provision field.
2.) All remaining listings that have not been changed to the Special Sale Provision field, will have Special Sale Provision – None selected.
Listings that currently have Banked Owned, Short Sale or None of the Above selected in the Special Sale Provision Field will not be affected by these changes.

Please click here for a link that outlines in detail the scope of these changes.

Please make sure to check your listings as well as saved and prospecting searches for accuracy after the change takes place Tuesday, October 27, 2009.

If you have any questions, please feel free to contact our friendly Help Desk staff at 407-218-8607 or 800-686-7451. You may also chat live with us at MFRMLS.com.
 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: